Welcome back to the Sunstone Way.
One of the things that I truly appreciate is staying power. That goes double for partners. Long-term relationships tend to strengthen, and provide long-term benefits.
From the Beginning
I’m pleased to say that we’ve had that kind of relationship with Evolectric™ and its co-founders Bill Beverley and Jakson Alvarez pretty much since shortly after they founded the transportation technology company.
Bill and Jakson met while working at a battery company, and collaborated on an idea to convert medium-duty trucks from diesel and gasoline to electric drivetrains. Evolectric was born in 2019. Beverley had earned his degree in mechanical engineering back in 2008 at Cal State Long Beach, and was told about the new Long Beach Accelerator getting ready to launch in 2020 – it seemed like a perfect match.
As you might know, Sunstone Management was one of the original partners to start the Long Beach Accelerator (a public-private education partnership, but that’s a different story), and Evolectric’s completion of that first LBA cohort came with an investment. According to Jakson, the lessons learned at LBA also were critical for Evolectric’s acceptance into the prestigious Los Angeles Cleantech Incubator.
Innovation in Action
There were some tough times during the COVID-19 pandemic that shut down much of the world in 2020 and 2021, but Evolectric spent the time wisely, developing their trademarked CircularEV solution – a conversion kit to install electric drivetrain systems combined with a smart platform monitoring batteries and vehicle data to enable analytics, predictive maintenance, and optimized fleet operation.
At Sunstone, we stayed in touch and helped with contacts, building partnerships and awareness of Evolectric in the quickly growing clean fuel environment of Southern California. Evolectric was able to complete its first truck conversions while constantly improving the product and installation process.
While Evolectric expanded its operations and investment base, Bill and Jakson continued to rely on Sunstone for help with government grants and qualifying for California incentive programs. Just last year, the South Coast Air Quality Management District approved a $1 million demonstration program with Evolectric as a primary implementor to develop fast-charging battery technology – Evolectric is handling the e-truck portion of the project.
Sunstone also stood beside Evolectric in a successful 2024 push to increase California government incentives for zero-emission vehicle solutions. The result was an increase from 50% to 75% subsidies through the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP) offered through the California Air Resources Board.
Expansion
April 12, 2024, was a red-letter day when Bill and Jakson opened Evolectric’s new headquarters and production facility at the Rancho Dominguez industrial park. We were there to help celebrate and to provide substantial support.
In addition to expanding physically, Evolectric was expanding in scope and offerings. An installation kit made it possible to conduct truck conversions away from the main production facility, and the team began operating in Mexico and as far away as Jakson’s native Columbia.
This expanded territory was particularly significant where the life span of truck chassis could be extended by 10 years or more with a new drive train. The clean electric technology was welcomed as well.
Back at home, another expansion began putting Evolectric systems on new truck chassis, creating computer-analyzed smart trucks driven on electricity. TCI, a national truck leasing and rental company, announced a 10-truck order on the day the new facility was opened.
“By working closely with Sunstone, we’re not just deploying vehicles,” Jakson said last year. “We’re setting a precedent for how innovative financing and policy alignment can drive scalable, sustainable change in the commercial fleet industry.”
Checking the Core Values
This partnership with Bill, Jakson and all of Evolectric aligns perfectly with what Sunstone is all about – Investment, Entrepreneurship, and Community. We’ve invested our time, connections and more into the innovative approach at Evolectric to make our community a better place.
It’s our plan to continue walking beside Evolectric and our other founder partners into the future. That, after all, is the Sunstone Way.
And remember, always be a Sunstone!
John Keisler
CEO & Managing Partner
Sunstone
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Sunstone Investment Group, headquartered in Southern California, is the holding company for the Sunstone family of entities, including: Sunstone Investment Management Services, responsible for administrative services; Sunstone Advisors, an SEC-registered investment adviser, which oversees Sunstone Venture Partners LLC, a private capital fund manager; Sunstone Cities, a government economic development consulting firm; and Sunstone Community Fund, a charitable organization that supports entrepreneurship. Sunstone is dedicated to enriching lives through investment, entrepreneurship, and community. Email us at contact@sunstoneinvestment.com.
©Sunstone, 2026
Disclosure: Evolectric is a Sunstone Investment Group portfolio company. This blog is for informational purposes only and its contents should not be construed as a recommendation. The information on this social media site alone cannot, and should not be used in making investment decisions. Investors should carefully consider the investment objectives, risks, charges and expenses associated with any investment.